International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

A Widely Indexed Open Access Peer Reviewed Multidisciplinary Bi-monthly Scholarly International Journal

Call for Paper Volume 8, Issue 2 (March-April 2026) Submit your research before last 3 days of April to publish your research paper in the issue of March-April.
Submit Research Paper Join as a Reviewer

Plagiarism is checked by the leading plagiarism checker TurnItIn

Call for Paper

Volume 8 Issue 2
March-April 2026

Submit your research paper

Indexing Partners
Academia Advanced Sciences Index Bielefeld Academic Search Engine CiteSeer DRJI Google Scholar Independent Search Engine & Directory Network ISI (International Scientific Indexing) Issuu Mendeley Research Networks
RefSeek ResearcherId - Thomson Reuters ResearchGate Scirus Scribd Semantic Scholar UTeM - Universiti Teknikal Malaysia Melaka Wiki for Call for Papers WorldCat Zenodo

Friedrich Hayek on Liberty, Free Markets, and the Rule of Law

Author(s) Dr. Clayton H Hawkins
Country United States
Abstract Friedrich A. Hayek is widely regarded as one of the most influential twentieth-century theorists of classical liberalism and constitutional governance. His work emphasizes individual liberty, decentralized decision-making, and the rule of law as essential institutional conditions of a free society. Hayek argued that economic freedom is inseparable from political freedom and warned that discretionary government intervention in markets undermines constitutional limits and expands the state's coercive authority. This article examines Hayek's conception of liberty, his critique of economic interventionism, and his theory of the rule of law as articulated in The Road to Serfdom and The Constitution of Liberty. Situating Hayek's arguments within the literature of constitutional political economy, the article engages major critiques from Keynesian economics, Karl Polanyi, John Gray, James Buchanan, and Amartya Sen. It further considers contemporary governance challenges, including digital markets and regulatory discretion, through Hayek's emphasis on general rules and institutional restraint. While critics contend that Hayek's framework limits the state's capacity to address collective problems, the analysis argues that his institutional approach offers a durable standard for evaluating constitutional limits, economic coordination, and the preservation of liberty in modern democratic societies.
Keywords liberty, decision-making, freedom, democracy
Field Sociology > Politics
Published In Volume 8, Issue 1, January-February 2026
Published On 2026-01-22
DOI https://doi.org/10.36948/ijfmr.2026.v08i01.66783
View / Download PDF File

Share this



E-ISSN 2582-2160
CrossRef

CrossRef DOI is assigned to each research paper published in our journal.

IJFMR DOI prefix is
10.36948/ijfmr

Downloads
Research Paper Format Copyright Permission Form and Undertaking Form Cover Page Vol 8 Isu 2Cover Page Vol 8 Isu 1Cover Page Vol 7 Isu 6

All research papers published on this website are licensed under Creative Commons Attribution-ShareAlike 4.0 International License, and all rights belong to their respective authors/researchers.

CC-BY-SA Open Access

About IJFMR
Fees & Payment
Current Issue
Publication Archive 		Submit Research Paper
Track Submission Status
Publication Guidelines
Publication Ethics
Peer Review & Plagiarism 		Join as a Reviewer
Editors & Reviewers
Reviewer Referral Program
Get Reviewer Membership Certi. 		Website/Journal Policies
Usage Policy
Content Policies
Privacy Policy
Contact Us +91-9687-828-838 editor@ijfmr.com
Powered by Sky Research Publication and Journals